From the last layoff in February, If we were provided Warn Pay & Severance, does anyone know if Macy's can reduce or eliminate this? We're not even through the NY 90 day Warn requirement (where Macy's has to pay you for 90 days) before this most recent furlough announcement begins..
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NY has not provided any waivers for companies affected Warn, for covid 19 layoffs, like California/San Francisco. thats why companies are calling it furloughs vs mass layoff.
February layoffs were covered by WARN as Macy's closings were due to economic reasons, and to pursue the new Polaris strategy, and not COVID 19 which had not impacted Macys. The WARN notice was filed by Macy's with NY State to reflect this. I don't think you can change the reason after the fact or deny the pay for those people in the original layoff (these weren't furloughs).
Rub for your lives – move now!!
Assuming Macy's doesn't go bankrupt, should I wait till the stock market goes back up before rolling over my 401K to Fidelity Investments? Or should I stay with Merrill Lynch?
Regarding your 401K....my store closed a few years ago......within a couple of months I rolled it over into my Fidelity IRA. I was pleasantly surprised to see a year later more $$$ had appeared in my 401K.....another match from the previous year. I only saw this because I was checking on my pension balance. Make sure you keep your insite sign ons current. Good luck.
Well, I was among the Feb layoff people, we were given a severance letter. It was a layoff not a furlough. So I'm assuming that it is legally binding. Although I think none of us are going to get much of a bonus this year and my 401 match has been differed till Nov, which means I don't think I can roll over my shares to Fidelity anytime soon. I'm so happy I got out of this company when I got out!
I think the OP has an interesting question. It would be something I would worry about too. I'm wondering if they had you sign an agreement (contract) when this was presented to you?
Comes around and goes around. Please respect each other. I would like to know how will affect for mass lay off worker? For Future
Do your research.
The WARN Act exempts employers from compliance with notice requirements for otherwise covered events that occur as a result of a natural disaster or unforeseeable business circumstances. But employers still must provide as much notice as practicable and explain the reasons for any shortened notice period.
Moreover, a number of states have their own “mini WARN” Acts, some of which have more onerous or expansive notice requirements, and some of which do not contain exemptions for unforeseeable business circumstances. As a result, employers who claim the unforeseeable business circumstances exemption under the federal WARN Act may not be able to claim a similar exemption under state law.
COVID is a national emergency with unforeseen circumstances so it does not apply
Under the WARN Act provisions, an employer who orders a plant closing or mass layoff without providing this notice is liable to each un-notified employee for back pay and benefits for up to 60 days during which the employer is in violation of the WARN Act.
I've never heard of this. How does it work?